Volvo Group agreed to sell its UD Trucks unit to Isuzu Motors Ltd. for about $2.3 billion and announced plans to forge a strategic alliance with its Japanese rival, the latest sign of consolidation in the global automotive industry.
December 18, 2019BusinessTechnologySafetyAutonomous
Volvo Group Venture Capital Invests in Apex.AI, Autotech Ventures
Volvo Group Venture Capital AB announced it invested in Apex.AI, a startup software company involved in autonomous mobility, to help fund the development of a safety-certified software framework for autonomous systems.
December 10, 2019BusinessTechnologyFuelAutonomous
Volvo Trucks Sells First Electric Trucks to European Customers
Volvo Trucks announced the start of sales of Volvo FL and Volvo FE electric trucks in selected markets within Europe, including for distribution and refuse hauling, as the region faces increasing demand for environmentally conscious urban transport.
November 6, 2019BusinessTechnologyEquipmentAutonomous
Volvo Reports Modest Gains in Q3 Net Income, Revenue
Volvo Group reported a marginal increase in net income and a modest bump in revenue in the third quarter, citing slowing markets for trucks, construction equipment, and marine and industrial engines.
October 18, 2019BusinessTechnologyFuelAutonomous
Volvo to Cut Carbon Footprint in Bid to Sell Electric SUVs
Volvo is tying the launch of its first all-electric vehicle — the XC40 Recharge crossover — to a broader plan for shrinking the carbon footprint of its models by 40% through 2025.
October 16, 2019BusinessTechnologySafetyAutonomous
Volvo Marks Major Anniversaries of Connected Technology, Accident Research
Volvo Group celebrated a milestone in the number of connected vehicles sold to customers over the past 25 years, while its truck unit, Volvo Trucks, celebrated its 50th anniversary of performing accident reconstruction and analysis.
October 7, 2019BusinessEquipment
Dex Opens Parts Facility in Oklahoma City
Dex Heavy Duty Parts, a Volvo Group subsidiary and supplier of recycled, renovated and surplus medium- and heavy-duty truck parts, announced the opening of its facility in Oklahoma City.
August 19, 2019Business
Kriete Truck Centers Invests $6 Million in Expansion
Mack Trucks announced dealer Kriete Truck Centers invested $6 million in a new building at its Racine, Wis., location, doubling the amount of service bays at the facility.
August 16, 2019Business
Volvo Posts Record Quarterly Revenue in 2Q
Volvo Group posted higher net income in the second quarter on the strength of record sales and increased truck deliveries.
July 18, 2019BusinessTechnology
Volvo Quarterly Earnings Surge as North America Deliveries Jump
Volvo Group’s second-quarter earnings beat analyst expectations, as truck deliveries rose and the company increased its market forecasts for North America and Europe this year.
July 18, 2019